FTSE 100 Holds Steady as Energy Stocks Provide Support Amid Retail Decline

London's FTSE 100 remained stable despite declines in retailers, offset by gains in energy stocks. B&M suffered a significant loss, while energy giant Shell's stocks improved. The market is in a holding pattern amid fiscal concerns following the French prime minister's resignation and an ongoing U.S. government shutdown.

London's FTSE 100 held its ground on Tuesday as a surge in energy stocks countered losses in the retail sector following last week's rally. Despite slips among major retailers like B&M, which hit its lowest point in over five years due to a profit warning, the overall index was steady.

The blue-chip FTSE 100 index remained flat at 9,480.84, with a notable mid-cap FTSE 250 decline by 0.2%. Investors witnessed a mixed performance in sectors, where housing market data showed slower-than-expected growth, impacting homebuilders such as Vistry and Bellway. Conversely, energy equities received a boost as Shell upgraded its LNG production outlook for the third quarter.

Market experts forecast a cautious approach from investors amid political uncertainty following France's prime minister's resignation and the U.S. government shutdown. However, companies like Imperial Brands and Rentokil experienced gains, further demonstrating varied market performance.

(With inputs from agencies.)